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Key Facts

Year Built 2001
Building Area sf
Land Area acres

Property Description

JLL is pleased to exclusively present an outstanding opportunity to purchase the fee simple interest in a recently leased 48,239 square-foot Albertsons. Albertsons is one of the largest food and drug retailers in the U.S. The Property is located in the northeast corner of Oregon in Baker City and benefits from its proximity to Interstate 84 and the Union Pacific Railroad mainline. Many national brand retailers, such as US Bank, McDonald’s, Pizza Hut, Shell Gas, and Best Western are in close proximity to this location.


The entity on the lease is Safeway, Inc., a wholly owned subsidiary of Albertsons Companies, Inc. The tenant has executed a 15-year Absolute NNN lease through February 2035 with 2% annual rent escalations. This rare investment opportunity provides long term, passive cash flow with no landlord responsibilities.

Investment Highlights

  • The 3rd Largest Private Company (Forbes) and 2nd Largest Supermarket Chain In The Nation With $60.5b In Revenue And Over 2,200 Locations
  • Absolute NNN Lease Structure, Offering True Passive Ownership With No Landlord Responsibilities
  • 15+ Years Of Original Lease Term Remaining With 2.0% Annual Rent Increases
  • Rent Is Well Below Market. Most Recent Grocery Lease Comparable In Baker City Was $18.61 PSF Annually Compared To The Subject Lease Rate Of $7.85 PSF
  • Desirable Location: Property Is Located On One Of The Main Commercial Corridors In The Area 
Adam Friedlander
Adam Friedlander
Director
Licensed in
CA - 1806555
Nick Kassab
Senior Director

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